Donald Shepard Elected Chairman of U.S. Chamber

WASHINGTON, D.C.–-The U.S. Chamber of Commerce's board of directors today elected Donald J. Shepard as its chairman. Shepard recently concluded a six-year tenure as chairman and chief executive officer of AEGON N.V., one of the world's largest life insurance groups. He is currently the non-executive chairman of AEGON USA, the group's U.S. division which includes the company Transamerica.

"With his experience running a major business, Don has an astute understanding of what it is going to take to keep America competitive in the 21st century," said U.S. Chamber President and CEO Tom Donohue. "He will be a tireless champion for our competitiveness plan—strengthening our human capital, bolstering our infrastructure, boosting our energy supplies, and making our capital markets more efficient.

"Over the years, Don has proven his status as a visionary," Donohue continued. "He was one of the driving forces behind the creation of our groundbreaking Institute for Legal Reform and he helped fundamentally shore up the Chamber's financial position during difficult times in the late 1990s. Don is poised to build on these significant successes during his term as chairman."

"I am extremely honored by the board's confidence," Shepard said. "The U.S. Chamber is a dynamic and effective advocate for American business in today's increasingly competitive global marketplace. I have enjoyed being part of the Chamber's public policy accomplishments these past several years and look forward to working more closely with my board colleagues and Tom Donohue to enhance the prospects for American business at this critical time."

Netherlands-based AEGON is one of the world's largest insurance companies measured by market capitalization and assets, offering a variety of life insurance, pension, and investment products. Worldwide, AEGON employs 29,000 people with 13,000 U.S. employees.

Shepard began his career in 1970 with Life Investors, Inc., an insurance holding company, and became executive vice president and chief operating officer in 1985. Shepard held this position until AEGON consolidated its other U.S. operations with Life Investors to form AEGON USA in 1989, and he was appointed chief executive officer. In 1992, he became a member of the Executive Board of AEGON N.V., and in April 2002 he was appointed chairman of the Executive Board and chief executive officer.

Shepard has served on the U.S. Chamber's board of directors since 1998 and is currently a member of the Chamber's executive committee. He was treasurer of the Chamber from 2000 to 2003 and served as vice chairman since June 2007.

An Iowa native, Shepard holds an M.B.A. from the University of Chicago. He serves as a member of the boards of directors of PNC Financial Services Group, Inc., and CSX Corporation, and is a past chairman of The Financial Services Roundtable. He is a trustee of Johns Hopkins Medicine and Johns Hopkins University.

Shepard succeeds Paul S. Speranza Jr., whose one-year term as chairman concluded today. Speranza is vice chairman, general counsel, and secretary of Wegmans Food Markets, Inc.

More information about the U.S. Chamber of Commerce's board of directors is available at http://www.uschamber.com/about/board

The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.

www.uschamber.com

# # #